V.N. & Britannic Warehouses Limited

	Page
Statement of Financial Position	1—2
Notes to the Financial Statements	3—5

Registered number: 01002902

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		700,755		728,207
Investments	5		100		100

			700,855		728,307
CURRENT ASSETS
Stocks		2,042,576		2,410,326
Debtors	6	371,388		417,783
Cash at bank and in hand		1,214,431		824,532

		3,628,395		3,652,641
Creditors: Amounts Falling Due Within One Year	7	(2,451,902 )		(2,505,819 )

NET CURRENT ASSETS (LIABILITIES)			1,176,493		1,146,822

TOTAL ASSETS LESS CURRENT LIABILITIES			1,877,348		1,875,129

PROVISIONS FOR LIABILITIES
Deferred Taxation			(17,382 )		(23,290 )

NET ASSETS			1,859,966		1,851,839

CAPITAL AND RESERVES
Called up share capital	8		20,000		20,000
Income Statement			1,839,966		1,831,839

SHAREHOLDERS' FUNDS			1,859,966		1,851,839

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V.N. & Britannic Warehouses Limited

Statement of Financial Position (continued)

As At 31 December 2025

For the year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.

On behalf of the board

Mr Paul Delippe Laroiya

Director

24 July 2026

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

V.N. & Britannic Warehouses Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01002902 . The registered office is 142 Sand Pits, Birmingham, B1 3RJ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Significant judgements and estimations

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the application of policies and the reported amounts of assets, liabilities, income and expenses. These estimates and judgements are continually reviewed and are based on past experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. They can impact the carrying value of assets and liabilities. The areas requiring a higher degree of judgement, or complexity, and areas where assumptions or estimates are most significant to the financial statements are disclosed below:

Stock Provision

At each reporting date, stock is assessed for impairment and a provision is calculated. The provision is applied against slow moving and obsolete stock items and reduces the carrying value of the stock to its estimated net realisable value, where this is thought to be lower than the original cost.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. In respect of the sale of goods, revenue is recognised on delivery of the product or on collection from the showroom.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	2% on cost
Motor Vehicles	25% on cost
Fixtures & Fittings	15% on cost

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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V.N. & Britannic Warehouses Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.6. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 42 (2024: 56)

4. Tangible Assets

	Land & Property
	Freehold	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£
Cost
As at 1 January 2025	1,571,808	45,850	665,823	2,283,481
Additions	-	-	500	500

As at 31 December 2025	1,571,808	45,850	666,323	2,283,981

Depreciation
As at 1 January 2025	856,201	45,850	653,223	1,555,274
Provided during the period	22,615	-	5,337	27,952

As at 31 December 2025	878,816	45,850	658,560	1,583,226

Net Book Value
As at 31 December 2025	692,992	-	7,763	700,755

As at 1 January 2025	715,607	-	12,600	728,207

Included in cost of land and buildings is freehold land of £116,000 (2023 - £116,000) which is not depreciated.

5. Investments

	Listed
	£
Cost
As at 1 January 2025	100

As at 31 December 2025	100

Provision
As at 1 January 2025	-

As at 31 December 2025	-

Net Book Value
As at 31 December 2025	100

As at 1 January 2025	100

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V.N. & Britannic Warehouses Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

6. Debtors

	2025	2024
	£	£
Due within one year
Prepayments and accrued income	371,388	122,417
Other debtors	-	76,237
Corporation tax recoverable assets	-	219,129

	371,388	417,783

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	173,584	132,779
Other loans	449,777	567,474
Corporation tax	89,423	-
Other taxes and social security	56,066	35,895
VAT	148,749	122,138
Other creditors	4,569	21,363
Accruals and deferred income	12,608	17,905
Directors' loan accounts	1,517,026	1,608,165
Amounts owed to group undertakings	100	100

	2,451,902	2,505,819

8. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	20,000	20,000

9. Share Capital

Class of Share	Number	Nominal Value	2024 £	2023 £
Ordinary P	600	£1	600	600
Ordinary Q	600	£1	600	600
Ordinary R	1,200	£1	1,200	1,200
Ordinary S	600	£1	600	600
Ordinary T	600	£1	600	600
Ordinary U	1,200	£1	1,200	1,200
Ordinary V	2,400	£1	2,400	2,400
Ordinary W	600	£1	600	600
Ordinary X	5,200	£1	5,200	5,200
Ordinary Y	5,200	£1	5,200	5,200
Ordinary Z	1,800	£1	1,800	1,800
			20,000	20,000

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